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the fiscal cliff comments appear to be the new greek rumor comments. every time something comes out, much like rumors out of greece. >> you guys hopeful on the floor that we get a deal sometime soon? >> you may not get a finalized deal but you'll get something done before the year end which will give us confidence to keep the market stabilized. >> members of the house tomorrow go home tomorrow for christmas. can you get a deal if they are home? >> i think you can. i think it's a little more di
the fiscal cliff comments appear to be the new greek rumor comments. every time something comes out, much like rumors out of greece. >> you guys hopeful on the floor that we get a deal sometime soon? >> you may not get a finalized deal but you'll get something done before the year end which will give us confidence to keep the market stabilized. >> members of the house tomorrow go home tomorrow for christmas. can you get a deal if they are home? >> i think you can. i...
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. >> something on all of our minds is the fiscal cliff. i would be remiss if i did not ask you both to weigh in on it in the following way. first, what is going on that we do not understand? number two, what should happen? number 3, what is the rsc going to do to help us get to that sector state, and what should happen? either of you want to chime in on that? >> first of all, if you look at where we are right now, and because of a number of reasons, a few of them going back to the last debt ceiling bill -- i did not vote for the budget control act, and because it did not address the real problem, and that is spending. if you look at the debate, it is mostly a debate about how much in taxes to raise, and the president keeps moving the goal post. he keeps adding more to it. he has an insatiable appetite to spend money and attack other people for it. we are not talking about addressing the real problem. i do not think anybody's taxes should go up. barack obama said three years ago, if you raise taxes in a bad economy, it will make things wors
. >> something on all of our minds is the fiscal cliff. i would be remiss if i did not ask you both to weigh in on it in the following way. first, what is going on that we do not understand? number two, what should happen? number 3, what is the rsc going to do to help us get to that sector state, and what should happen? either of you want to chime in on that? >> first of all, if you look at where we are right now, and because of a number of reasons, a few of them going back to the...
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the fiscal cliff. oh my goodness, the fiscal cliff is now just -- wow, 20 days away. so what are we going to do? some have suggested that we really have to deal with entitlements. and i'm here to agree that we can and we should deal with entitlements. certainly two of those issues, which i really don't think we ought to call entitlements but are fundamental programs here in america for americans, should be dealt with. one that some people want to put on the table really doesn't deal with the deficit at all, and that's social security. so before we even get into this discussion tonight, let's just understand or anybody that cares to take on this issue that in dealing with the fiscal cliff, social security is not the problem. the deficit is not caused by social security. social security has never been and in its present form, will not be part of the deficit issue. it's separate and apart. it is a special program. has its own source of revenue. has its own trust fund and isn't running the deficit at all a
the fiscal cliff. oh my goodness, the fiscal cliff is now just -- wow, 20 days away. so what are we going to do? some have suggested that we really have to deal with entitlements. and i'm here to agree that we can and we should deal with entitlements. certainly two of those issues, which i really don't think we ought to call entitlements but are fundamental programs here in america for americans, should be dealt with. one that some people want to put on the table really doesn't deal with the...
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fiscal cliff? can't we call it something else? >> dana: sure. >> eric: monetary -- >> greg: liberal fantasy. >> bob: one more thing on the table. can obama sell cuts in entitlements to his senate? >> dana: not acarding to harry reid. >> eric: leave it there. we'll stay on it. don't go away. more on developing news washington, including ambassador susan rice. we'll get on that when we come back. ♪ ♪ ♪ [ male announcer ] this is karen and jeremiah. they don't know it yet, but they're gonna fall in love, get married, have a couple of kids, children laughing ] move to the country, d live a long, happy life together where they almost never fight about money. [ dog barks ] because right after they get married, they'll find some retirement people who are paid on salary, not commission. they'll get straightforward guidance and be able to focus on other things, like each other, which isn't rocket science. it's just common sense. from td ameritrade. often comes with a set of equally impressive instructions ? shouldn't something that's
fiscal cliff? can't we call it something else? >> dana: sure. >> eric: monetary -- >> greg: liberal fantasy. >> bob: one more thing on the table. can obama sell cuts in entitlements to his senate? >> dana: not acarding to harry reid. >> eric: leave it there. we'll stay on it. don't go away. more on developing news washington, including ambassador susan rice. we'll get on that when we come back. ♪ ♪ ♪ [ male announcer ] this is karen and jeremiah. they...
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the fiscal cliff thing. the average person really has no idea what that stands for. if you watch that. >> brian: you much the package. >> steve: no idea. something we learned about in school . i forgot about it. jay carny revealed yesterday. gretchen just said it is not a tax problem it is the way they waste our money. jay carny said deficit reduction is not the goal. are you kidding? here he is. >> deficit reduction is not the goal here. the reason to get our fiscal house in order and the reason to pass a deficit reduction package that is balanced and allows for economic growth is to put our economy on a sustainable fiscal path which again, in itself produces positive economic benefits and revenues are part of it this. the president put forth and entitlement reforms and savings gleaned from our health care entitlement programs need to be a part of it. the president has been specific about that. >> brian: he's talking about generalitiys about unnamed cuts. jay carny goes on to admit if the president's proposal went to the democratically controlled senate it would not
the fiscal cliff thing. the average person really has no idea what that stands for. if you watch that. >> brian: you much the package. >> steve: no idea. something we learned about in school . i forgot about it. jay carny revealed yesterday. gretchen just said it is not a tax problem it is the way they waste our money. jay carny said deficit reduction is not the goal. are you kidding? here he is. >> deficit reduction is not the goal here. the reason to get our fiscal house in...
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the fiscal cliff was meant to be something nobody wanted to go another and here we are about to go off it. we really need our elected officials to figure this out and come up with a reasonable compromise that keeps our economy growing and gives us certainty about the future so that we can make our plans as business leaders. >> welcome back to the special edition of the "closing bell." dupont stock on the move. 1.5% higher in the after-hours trading session coming on the heels of the news that the chemical giant will issue a $1 billion buyback program and updating its 2012 guidance to the top of the range. chairman and ceo ellen coleman joins me now in a cnbc exclusive. thanks for joining us. >> great to see you as well. >> let me start with the announcement on the share buyback. all we talk about is the idea that taxes are probably going to go higher. you've got dividend taxes probably going to go higher in 2013 as well as capital gains taxes. what motivated a buyback versus a -- a larger dividend or a special dividend as we've been hearing from so many companies today trying to get ah
the fiscal cliff was meant to be something nobody wanted to go another and here we are about to go off it. we really need our elected officials to figure this out and come up with a reasonable compromise that keeps our economy growing and gives us certainty about the future so that we can make our plans as business leaders. >> welcome back to the special edition of the "closing bell." dupont stock on the move. 1.5% higher in the after-hours trading session coming on the heels of...
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for food, for family, and now, something extra -- for you. >>> everybody is waiting for the fiscal cliff. i went down to the capitol this morning to see how things are progressing. i got more negative when harry reid said it is unlikely that a deal will be done by christmas. i'm thrilled to have senator john hovan, a republican from north dakota who has been an advocate here with us tonight. welcome back to "mad money." >> jim, good to be with you. >> i noticed that you are for a bipartisan situation and one of the things that tells me that you are for real is that you have not signed a pledge that would make it so that you cannot vote for a tax increase. it should be a big deal on the order of four trillion dollar over ten years. get growth in our economy and the kind of deal that inincludes tax reform and better spending control. >> when you were governor of your state you previded over what i think is the single greatest employment boom. is washington so different that you wish you were back home? >> you have been out to north dakota, but you are right. the fundamentals don't change.
for food, for family, and now, something extra -- for you. >>> everybody is waiting for the fiscal cliff. i went down to the capitol this morning to see how things are progressing. i got more negative when harry reid said it is unlikely that a deal will be done by christmas. i'm thrilled to have senator john hovan, a republican from north dakota who has been an advocate here with us tonight. welcome back to "mad money." >> jim, good to be with you. >> i noticed...
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gerri: it's not just politicians and ceos are worried about the fiscal cliff. even baseball players are worried. this man just signed a contract with the atlanta braves. this is something that the mbl rarely does. if upton gets paid one day later, he gets paid an additional $120,000 in taxes. he is not alone. his former tampa bay teammaae, signed an extension cable next week. who can blame them? it is like a tax revolt all over the place. if washington doesn't act fast, major league owners will be forced to shell out a lot of money. [ oman ] ring. ring. progresso. i just served my mother-in-law yo chicken noodle soup but she loved it so much... i told her it was homemade. everyone tells a little white lie now and then. but now she wants my recipe [ clears his throat ] [ softly ] she's right behind misn't she? [ male announcer ] progresso. you gotta taste this soup. you know how painful heartburn can be. for fast, long lasting relief, useoctor recommended gaviscon®. only gavisco® forms a protective barrier that helps block stomach acid from splashing up- relie
gerri: it's not just politicians and ceos are worried about the fiscal cliff. even baseball players are worried. this man just signed a contract with the atlanta braves. this is something that the mbl rarely does. if upton gets paid one day later, he gets paid an additional $120,000 in taxes. he is not alone. his former tampa bay teammaae, signed an extension cable next week. who can blame them? it is like a tax revolt all over the place. if washington doesn't act fast, major league owners will...
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when we were pushed to fiscal cliff it was because john boehner promised something to the president and could not get members of his caucus do the right thing for the american people. >> i don't think we should be putting more gas on the karl what you're saying when your enemy is committing suicide, don't step in and interrupt? >> jennifer: break out the popcorn and sit back and watch the fight. a right on right fight. >> they're the ones who are responsible. don't blame us. >> what you risk about allowing them to fight with each other is going over the fiscal cliff and plunging us into another recession. when i say put gas on the fire, we cannot sit here and wait for them to self-destruct. it does not get the job done in washington. what gets the job in washington is standing up loud and proud and look at what they're doing to us. if we don't do that, we will squander another opportunity to show the american people that democrats are doing what is right for the working class in this country, and republicans are standing in the way to protect the tax cuts-- >> and that's the democrat's
when we were pushed to fiscal cliff it was because john boehner promised something to the president and could not get members of his caucus do the right thing for the american people. >> i don't think we should be putting more gas on the karl what you're saying when your enemy is committing suicide, don't step in and interrupt? >> jennifer: break out the popcorn and sit back and watch the fight. a right on right fight. >> they're the ones who are responsible. don't blame us....
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. >> dana: i have something also about the fiscal cliff. something you haven't heard about is rural america is under threat from a major raise in taxes. death and state taxes. throw up the map. senator from wyoming put this out. 526,421 family farms threatened by the new death tax. mostly because assets are tied up in land. you're land rich and cash poor. this hurts a lot of people. >> greg: this plays in the old phrase buying the farm. >> dana: it plays in something i want to tease for friday, which is i am -- i got to buy the farm. get it. think we haven't heard that. >> bob: promote something? >> dana: on friday, tomorrow i'm going to vegas and i'm going to the national rodeo -- the national finals rodeo sponsored by wrangler. i went last year and i got to interview the rodeo queen. the new rodeo queen this year and talk to a few other people and chance to go to the rodeo and see my family. >> eric: that's nice. >> dana: that's it? "that's nice." >> kimberly: it sundays fun. you know how to ride a horse. >> bob: ride a bull. >> dana: we
. >> dana: i have something also about the fiscal cliff. something you haven't heard about is rural america is under threat from a major raise in taxes. death and state taxes. throw up the map. senator from wyoming put this out. 526,421 family farms threatened by the new death tax. mostly because assets are tied up in land. you're land rich and cash poor. this hurts a lot of people. >> greg: this plays in the old phrase buying the farm. >> dana: it plays in something i want to...
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gerri: it's not just politicians and ceos are worried about the fiscal cliff. even baseball players are worried. this man just signed a contract with the atlanta braves. this is something that the mbl rarely does. if upton gets paid one day later, he gets paid an additional $120,000 in taxes. he is not alone. his former tampa bay teammaae, signed an extension cable next week. o can blame them? it is like a tax revolt all over the place. if washington doesn't act fast, major league owners will be forced to shell out a lot of money. gerri: it is thi nation's symbol of strength and unity in the face of tragedy. the rebuilding of one world trade center. the massive building is nearing completion. but it hasn't reached this milestone without majo complications. especially for cmmuters and the city's transportation agency. with more on the government's misuse of 9/11 funds, we have the manhattan institute scholar and "new york post" columnist michael goodwin. welcome to you both. -icole, i'm going to start with you. you just read an article on this, and you have done
gerri: it's not just politicians and ceos are worried about the fiscal cliff. even baseball players are worried. this man just signed a contract with the atlanta braves. this is something that the mbl rarely does. if upton gets paid one day later, he gets paid an additional $120,000 in taxes. he is not alone. his former tampa bay teammaae, signed an extension cable next week. o can blame them? it is like a tax revolt all over the place. if washington doesn't act fast, major league owners will...
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the stock market took its cues once again from washington and the rhetoric over the fiscal cliff. it was the fifth straight session of gains, with the buyers out at the opening bell. the index lost some momentum around 2:30 eastern time, something traders blame on comments from senate majority leader harry reid. reid said it would be extremely difficult to get legislation averting the fiscal cliff through the senate before christmas. with today's seven-tenths of a percent gain, it brings the index back to a level last seen on election day. for the year, its up 13.5%. trading volume increased to 691 million shares; just over 1.9 billion shares on the nasdaq. the technology sector was back in the leader position, up 1.4%. health care and telecommunications were up 1%. with the tech sector up, apple was helping out as it rebounded a little from its recent sell- off, but on lighter volume. shares rose 2.1%. piper jaffray's apple analyst predicts a more steady stock rally next year, and he's sticking with his $900 price target. it was a pair of business software firms that had the best
the stock market took its cues once again from washington and the rhetoric over the fiscal cliff. it was the fifth straight session of gains, with the buyers out at the opening bell. the index lost some momentum around 2:30 eastern time, something traders blame on comments from senate majority leader harry reid. reid said it would be extremely difficult to get legislation averting the fiscal cliff through the senate before christmas. with today's seven-tenths of a percent gain, it brings the...
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you got every day we're a little closer to the fiscal cliff. every day republicans are here, speaker boehner is here, leader mcconnel is here, lead ready to negotiate, ready to deal, ready to do something that will avoid what everybody agrees would be a disaster and yet the president seems to be content with just traveling around the country doing a victory lap or something at the very time he ought to be here in washington, d.c. sitting down across tremendous table -- across the table from the people who can help us avoid what would be a very, very bad situation for our country economically. it's about jobs and the economy, mr. president. you said it, ewe agree with that, now let's get to work and try to fix it. >> for people who spent a lifetime spilleding a small business in a community, and small communities around the country have a dry cleaner a florist, a car wash, those small businesses will be impacted by the change in the death tax that occurs on january 1. many will not be able to continue to hold that business in the family if they
you got every day we're a little closer to the fiscal cliff. every day republicans are here, speaker boehner is here, leader mcconnel is here, lead ready to negotiate, ready to deal, ready to do something that will avoid what everybody agrees would be a disaster and yet the president seems to be content with just traveling around the country doing a victory lap or something at the very time he ought to be here in washington, d.c. sitting down across tremendous table -- across the table from the...
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i think we are coming up again at the end of the year, people looking at the fiscal cliff situation and everyday we get something different coming out of washington today, disagreement. tomorrow it could be sounds like talks are progressing. we can see things slip around staying in this broad range across a series of markets and i think he will continue to see that until yo they get some kinf definitive answer and direction out of d.c. we will go from economic standpoint and getting money to work in the most efficient way. liz: good to see you gentlemen, thank you very much. never gets boring around here on fox business lackluster retail sales from the fed announcement yesterday turning on the stick is beginning next month painted the market red leaving me wondering if high investors, the smart money might be changing their investment strategy. we thought we would bring in, millions of dollars, they want to see the money grow. joining us in a fox business exclusive. you seem like a very measured person, that is why you have a lot of wealthy clients because you must do well for them. aft
i think we are coming up again at the end of the year, people looking at the fiscal cliff situation and everyday we get something different coming out of washington today, disagreement. tomorrow it could be sounds like talks are progressing. we can see things slip around staying in this broad range across a series of markets and i think he will continue to see that until yo they get some kinf definitive answer and direction out of d.c. we will go from economic standpoint and getting money to...
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>> steve: one of the young people when did respond said fiscal cliff, that sounds like something i probably studied in school. no. this is new. this is something that they've just fresh baked up for us. >> brian: this generation made it up! >> gretchen: they'll be paying for it. >> steve: for a long, long time. our children and children's children, consider the amount of dent this president has run up. this could be good news. the president of the united states did speak with speaker boehner yesterday on the phone. we know nothing about the call except they talked on the phone. we do know that the last offer, the counteroffer was made by the republicans. they're waiting for the white house. the white house at the same time says come on, we don't have another counteroffer because your last offer was a stinker. you, republicans, need to come up with a new one. >> gretchen: the thing is, they're playing hard ball right now. the white house has sent out tim geithner, the treasury secretary, instead of the president actually, to lead the negotiations and when he was asked yesterday in an intervi
>> steve: one of the young people when did respond said fiscal cliff, that sounds like something i probably studied in school. no. this is new. this is something that they've just fresh baked up for us. >> brian: this generation made it up! >> gretchen: they'll be paying for it. >> steve: for a long, long time. our children and children's children, consider the amount of dent this president has run up. this could be good news. the president of the united states did speak...
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. >> yeah, but there's stimulus the white house wants as a result of the fiscal cliff deal. they don't want to see a lapse, for instance, in the payroll tax cut. although they'd be fine with it being replaced by something else. unemployment insurance passed, infrastructure spending, those are incentives for the white house to cut a deal on the fiscal cliff as opposed to just going over it and saying, okay, we'll just take the, you know, sequester cuts and bush tax rates. >> that's right, and they were willing to do that in 2010 and were criticized, of course, by the base of the party because they felt so strongly about the stimulus measures. that shows how firmly the president is going to fight for those in the final package. >> i think there's so many reasons why boehner has to take a deal, though, in addition. if you look at the polls, 2 to 1, the public blames the republicans if there is no deal. and he's, meanwhile, gotten his tea party radicals, he's punished them for not following his line and his leadership. so, you know, look at wall street, they so far the market's
. >> yeah, but there's stimulus the white house wants as a result of the fiscal cliff deal. they don't want to see a lapse, for instance, in the payroll tax cut. although they'd be fine with it being replaced by something else. unemployment insurance passed, infrastructure spending, those are incentives for the white house to cut a deal on the fiscal cliff as opposed to just going over it and saying, okay, we'll just take the, you know, sequester cuts and bush tax rates. >> that's...
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either go over the cliff or come up with something with real solutions. >> rich peterson, let me get your take on earnings in 2013. we know the expectations on the economy if we go over the fiscal cliff, that the economy will see a contraction of a couple of percentage points. where are you on earnings for 2013, what are your expectations? >> maria, look at the s&p numbers, looking for a slow single digit percentage gains. for this period of the fourth quarter looking for gains in telecommunications and financials. i think the critical part, investors ought to be very keen just to weigh in the risk, you know, and the fact they had a very rewarding year in 2012, we were up about 12% on the s&p 500. earnings will be very much held captive by the fact that the uncertainty not only about the fiscal cliff but debt ceiling. >> very quickly, john, we're lose altitude in this market rapidly. what do you make of this, and what are you expecting to close here? >> just shows you how fragile our markets r.one comment out of washington can take profits off the table intraday. we'll hold on to our
either go over the cliff or come up with something with real solutions. >> rich peterson, let me get your take on earnings in 2013. we know the expectations on the economy if we go over the fiscal cliff, that the economy will see a contraction of a couple of percentage points. where are you on earnings for 2013, what are your expectations? >> maria, look at the s&p numbers, looking for a slow single digit percentage gains. for this period of the fourth quarter looking for gains...
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cliff and the negotiations that the letter can be sent and it wouldn't draw greta's attention. >> greta: does senator harry reid have the authority to delay the imp levellation? >> no, this is something that they definitely have to ask the departments and agencies not to implement. >> greta: does this go to hhs? >> i am guessing. who is it addressed to? >> greta: harry reid. the fix is in for the medical device community, i am going to say it. they want a special deal. they have gone to the democratic senators and now suddenly, they want a special deal out of it -- it's appalling. >> we don't add up all the taxes that are coming. the more -- that's why we repealed it and the whole health care bill -- >> greta: one of the taxes is the estate tax, that's the poor farmer who wants to give his farm or ranch to his heirs. >> you know that's a personal story with me. >> greta: oh, yeah. indeed, it is. >> what this is going to do, if we allow this to expire to go to a $1 million and 55% rate, 70% our farms in south dakota will be hit -- >> greta: but you problem is, you don't have a lobbyist.
cliff and the negotiations that the letter can be sent and it wouldn't draw greta's attention. >> greta: does senator harry reid have the authority to delay the imp levellation? >> no, this is something that they definitely have to ask the departments and agencies not to implement. >> greta: does this go to hhs? >> i am guessing. who is it addressed to? >> greta: harry reid. the fix is in for the medical device community, i am going to say it. they want a special...
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cliff. while that's going on and will keep going on for a while, your united states senate is haggling over something that might be even more important to the health of the republic, at least if in the future we want to, i don't know, solve any problems ever. i'm speaking, of course, of that great scourge the filibuster. that senate only rule that allows any senator in the majority or the minority to force legislation to pass not by the standard 51 votes, but by 60. which for most bills means certain death. rarely do 60 senators agree on anything. and over the last few years, the use and abuse of the filibuster, mainly but not exclusively by republicans, has reached record-breaking senate stopping heights. so what do you do? if you are harry reid, lead other telephone democrats in the senate, you try to reform it. and if you're mitch mcconnell, the republican leader who is using it all the time because it is your main kind of power you try to stop reform of it. now there are a couple of plan
cliff. while that's going on and will keep going on for a while, your united states senate is haggling over something that might be even more important to the health of the republic, at least if in the future we want to, i don't know, solve any problems ever. i'm speaking, of course, of that great scourge the filibuster. that senate only rule that allows any senator in the majority or the minority to force legislation to pass not by the standard 51 votes, but by 60. which for most bills means...
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cliff talks is the debt ceiling, with the government on pace to reach its borrowing limit early next year. the white house stated its position on the 14th amendment, which some theory rise is a way for the president to raise the debt limit independently, should republicans attempt to use it as a negotiating tool. >> i can say that this administration does not believe that the 14th amendment gives the president the power to ignore the debt ceiling, period. >> the fiscal cliff talks reached a new low yesterday when, somehow, the new york jets got dragged into it on the senate floor. >> it's not one of my favorite teams, but it's really, really fun to watch, and that's the new york jets. coach ryan, he's got a problem. he has three quarterbacks, sanchez, he's got tim tebow, he's got another guy. he can't decide who their quarterback is going to be. that's the same problem republicans are having. romney's gone, but he's still in the background. we have mcconnell and we have boehner. who is the quarterback, mr. president? who is the quarterback? >> there's some confusion about who the qua
cliff talks is the debt ceiling, with the government on pace to reach its borrowing limit early next year. the white house stated its position on the 14th amendment, which some theory rise is a way for the president to raise the debt limit independently, should republicans attempt to use it as a negotiating tool. >> i can say that this administration does not believe that the 14th amendment gives the president the power to ignore the debt ceiling, period. >> the fiscal cliff talks...
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that's not what the american people thought the fiscal cliff was about. they thought it was about trying to have something to force us, force our congress and our president to do something about the deficit and debt situation. everything they're talking about will make it worse. >> what's the answer? will we have the deal? >> the real answer is to have comprehensive. look at this. i as a republican, i would take raising the rates on the two top brackets if, in return, we had tax reform laid out over a period of months, if we had entitlement reform. we have to control defense spending. we have to control other no non- -- other discretionary non-defense spending. i think if you have the whole package, i would hold my nose despite the fact raising those two tax brackets is bad economics, bad for jobs, will hurt the economy, i would hold my nose to get the other done. what i wouldn't do is vote for that and do nothing else. >> agree completely. what i've been saying here. steve rattner. >> i agree completely. to get a big deal we all have to hold our nose a l
that's not what the american people thought the fiscal cliff was about. they thought it was about trying to have something to force us, force our congress and our president to do something about the deficit and debt situation. everything they're talking about will make it worse. >> what's the answer? will we have the deal? >> the real answer is to have comprehensive. look at this. i as a republican, i would take raising the rates on the two top brackets if, in return, we had tax...
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Dec 13, 2012
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fundamentals are this, the fiscal cliff does not look like it is going to be resolved. if it is resolved, it only takes care of a small part of the deficit. gold is something that you will always own. this one out piece, when you have it in your hand, that is worth $1700. dennis: wow. >> the only thing is, you cannot use it to buy a twinkie. it is not common courtesy. dennis: thank you. cheryl: we have the ceo of one small business looking to hone in on industries come back. dennis: apple maps back on track. first, take a look at apple treasuries. ♪ and we can save you 10% on ground shipping over the ups store. look this isn't my first christmas. these deals all seem great at the time... but later... [ shirt ] merry christmas, everybody! not so much. ho ho ho! this isn't that kind of deal. [ male announcer ] break from the holiday stress. save on ground shipping at fedex office. >> i am tracing parents with your fox business brief. mortgage rates fell again last week. the average rate is now 3.3%. foreclosure filings climbed to the lowest level in six years. according
fundamentals are this, the fiscal cliff does not look like it is going to be resolved. if it is resolved, it only takes care of a small part of the deficit. gold is something that you will always own. this one out piece, when you have it in your hand, that is worth $1700. dennis: wow. >> the only thing is, you cannot use it to buy a twinkie. it is not common courtesy. dennis: thank you. cheryl: we have the ceo of one small business looking to hone in on industries come back. dennis: apple...
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Dec 12, 2012
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>> the fiscal cliff is something he will talk about, say they have to solve this. he's talked before about the upside and said twice already the federal reserve cannot off-set the effects of the fiscal cliff. the fed could -- one idea -- the fed could keep a little bit of powder dry if we do go off the cliff, the fed has something it could do. >> mike duke last night the ceo of walmart spoke and he sa said -- they poll their shoppers all the time. a week before the election, 25% of walmart customers knew about the fiscal cliff. one week after the election, 75% of their shoppers know about the fiscal cliff and 15% say it means they will spend less on christmas. it's pre-telling, right? >> apparently the walmart shopper is more informed than the average american. we showed 70%. that's out there. it's something that affects people. it was clear in the data there was an effect of the fiscal cliff on overall economic attitudes. the more important thing we found is that it affects businesses and businesses slow down in capital spending. you're an economic student and you
>> the fiscal cliff is something he will talk about, say they have to solve this. he's talked before about the upside and said twice already the federal reserve cannot off-set the effects of the fiscal cliff. the fed could -- one idea -- the fed could keep a little bit of powder dry if we do go off the cliff, the fed has something it could do. >> mike duke last night the ceo of walmart spoke and he sa said -- they poll their shoppers all the time. a week before the election, 25% of...
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Dec 11, 2012
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>> look, the fiscal cliff, if we go over, is going to affect municipals in a significant way. they're going to face that loss of funding and spending cuts, so -- i think that's going to be an issue regardless. i don't see, right now, that people are investing in municipals because of fiscal cliff issues. they are investing with the idea that taxes are going up, though it's likely that there will be some modification of the tax exemption. >> alexandra, going to leave it there. thank you for coming by. >>> coming up next, how america's role in the global energy market could be in for a big makeover. we make sure you're ready for us. >>> plus, what you need to know and breaking down what's at stake. stick around. [ male announcer ] feeling like a shadow of your former self? c'mon, michael! get in the game! [ male announcer ] don't have the hops for hoops with your buddies? lost your appetite for romance? and your mood is on its way down. you might not just be getting older. you might have a treatable condition called low testosterone or low t. millions of men, forty-five or older
>> look, the fiscal cliff, if we go over, is going to affect municipals in a significant way. they're going to face that loss of funding and spending cuts, so -- i think that's going to be an issue regardless. i don't see, right now, that people are investing in municipals because of fiscal cliff issues. they are investing with the idea that taxes are going up, though it's likely that there will be some modification of the tax exemption. >> alexandra, going to leave it there. thank...
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Dec 7, 2012
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all i'll say is with a lot of talk about fiscal cliff, including this program, bald it could be a problem, the stock markets are dissonant. they're dissonant in the chinese soft/hard landing and putting it into a soft landing. something good is going on out there. and we better keep a good eye on it. i'm sorry we don't have more time. >> i think there's plenty of good things. >> folks, you're not going to believe this, you're not going to believe this, the michigan statehouse has just passed a bill in favor of making that so-called union paradise a right-to-work state. yes, it's really true. right to work in michigan. thought it would never happen. we're about to talk to the governor of the great state of michigan about this incredible development after the break. no more union paradise. americans believe they should be in charge of their own future. how they'll live tomorrow. for more than 116 years, ameriprise financial has worked for their clients' futures. helping millions of americans retire on their terms. when they want. where they want. doing what they want. ameriprise. the streng
all i'll say is with a lot of talk about fiscal cliff, including this program, bald it could be a problem, the stock markets are dissonant. they're dissonant in the chinese soft/hard landing and putting it into a soft landing. something good is going on out there. and we better keep a good eye on it. i'm sorry we don't have more time. >> i think there's plenty of good things. >> folks, you're not going to believe this, you're not going to believe this, the michigan statehouse has...
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Dec 7, 2012
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this is something that the white house has proposed as part of their fiscal cliff proposal. it's a nonstarter for republicans. but he wanted to put it on the floor to show that even democrats don't support giving the president that kind of authority. he did that and harry reid turned around and said, let's see if we can do it with a simple majority for 51 votes and democrats it appeared had made sure they had that and then mitch mcconnell in return ended up objecting to the very thing he propose eed. take a listen. >> now the republican leader objects his own idea. i guess we have a filibuster of his own bill. >> so this was some maneuvering that went on. mitch mcconnell won the day when he proposed a vote overall on the entire fiscal cliff proposal and harry reid objected to it. it's a little bit of a back and forth going on in the midst of these talks that are now reopened. >> you can't filibuster your own bill. that makes no sense. >> apparently you can. >> thank god it's friday. thank you. we appreciate the update. >>> other stories making news that are not all crazy. >>
this is something that the white house has proposed as part of their fiscal cliff proposal. it's a nonstarter for republicans. but he wanted to put it on the floor to show that even democrats don't support giving the president that kind of authority. he did that and harry reid turned around and said, let's see if we can do it with a simple majority for 51 votes and democrats it appeared had made sure they had that and then mitch mcconnell in return ended up objecting to the very thing he...
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Dec 5, 2012
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has nothing to do with the fiscal cliff. but it has everything to do with obamacare. >> now, it is true that a lot of those taxes did take place after the election. that's something we pointed out and is a fair point. but let me just ask you about the compromise we have to go to. because like i said, again, to get this done, taxes are -- i mean, they're going to go up on somebody. i just believe that this is what is going to happen. i think tom cole thinks it's going to happen. i think tom coburn thinks it's going to happen. i wanted to play a bite from him and get your reaction. here he is. >> sure. >> i'm okay to compromise even on some of my issues, if, in fact, we'll solve the problem. but what we have is a game being played for political -- for the extreme right wing and the extreme left win rather than coming together and leading and solving the problem. >> so grover norquist. if you had to accept the tax rates would go up, all right, just they're going to go up and they're going to go up on somebody. what would you re
has nothing to do with the fiscal cliff. but it has everything to do with obamacare. >> now, it is true that a lot of those taxes did take place after the election. that's something we pointed out and is a fair point. but let me just ask you about the compromise we have to go to. because like i said, again, to get this done, taxes are -- i mean, they're going to go up on somebody. i just believe that this is what is going to happen. i think tom cole thinks it's going to happen. i think...
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Dec 6, 2012
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. >> this could be another negotiating chip in the fiscal cliff. harry reid's threat. it could be something to try to get more tax increases out of the republicans. megyn: interesting. this is a huge deal back in '06. you haven't heard as much about it now that the shoe is on the other foot. the democrats find themselves in the minority they play rue the day harry reid pushed this through. new questions how to tell if someone is too high to drive. now that marijuana is legal for recreational use in two states, authorities are trying to figure out what the legal limit should be for getting behind the wheel after you toke up. this is why. video of a crash that look the lives of four teenagers. prosecutors say the 17-year-old driver was high on marijuana when he got behind the wheel. it happened on long island in october. the driver took a curb at 110 miles an hour. crossed three lanes of traffic and skidded into trees, one of whicher to the car in half. he survived but his friend did not. the new marijuana law weren't into effect in the state. people can smoke for recrea
. >> this could be another negotiating chip in the fiscal cliff. harry reid's threat. it could be something to try to get more tax increases out of the republicans. megyn: interesting. this is a huge deal back in '06. you haven't heard as much about it now that the shoe is on the other foot. the democrats find themselves in the minority they play rue the day harry reid pushed this through. new questions how to tell if someone is too high to drive. now that marijuana is legal for...
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>> the whole country is truly concerned about the fiscal cliff, that is obvious. everybody is sitting back and waiting to see if washington can actually get something done. if political agendas can get it aside and think about the devastation that probably occurred with the fiscal cliff. the spring selling season begins in late january. we have been the bright spot in the economy. our industry are creating jobs, we're coming back in the early stages of a recovery so the fiscal cliff january 1 would have a huge impact on the country, and impact on our business, and we have our fingers crossed and are very hopeful washington can get something done and we'll have to see. but if they don't, there is no question there will be a little bit of time until things settle down when the buyers will hit the sidelines. liz: will it derail the tentative recovery here? >> right now we are three weeks away from this fiscal cliff date and we're still selling houses. i don't think it derails it, but there could be a pause until things get worked out. liz: part of it is being discuss
>> the whole country is truly concerned about the fiscal cliff, that is obvious. everybody is sitting back and waiting to see if washington can actually get something done. if political agendas can get it aside and think about the devastation that probably occurred with the fiscal cliff. the spring selling season begins in late january. we have been the bright spot in the economy. our industry are creating jobs, we're coming back in the early stages of a recovery so the fiscal cliff...
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Dec 12, 2012
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. >> coming up, the last fed decision of the year and the final one before the fiscal cliff deadline. stay tuned for breaking news coverage of the fed decision on interest rates. it's a cnbc special report, and it's starts after this short break. but we can still help you see your big picture. with the fidelity guided portfolio summary, you choose which accounts to track and use fidelity's analytics to spot trends, gain insights, and figure out what you want to do next. all in one place. i'm meredith stoddard and i helped create the fidelity guided portfolio summary. it's one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. ♪ ♪ ♪ [ male announcer ] while you're getting ready for the holidays, we're getting ready for you. tis the season. for food, for family, and now, something extra -- for you. come pre-filled with problems. enough is enough. introducing the chase liquid reloadable card. with chase liquid, there's no waiting and no fee to activate you can load cash and checks at any chase depositfriendly atm and th
. >> coming up, the last fed decision of the year and the final one before the fiscal cliff deadline. stay tuned for breaking news coverage of the fed decision on interest rates. it's a cnbc special report, and it's starts after this short break. but we can still help you see your big picture. with the fidelity guided portfolio summary, you choose which accounts to track and use fidelity's analytics to spot trends, gain insights, and figure out what you want to do next. all in one place....
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taxes, fiscal cliff. why do you have to bring in social security and medicare and fix something that's not broke? >> stephanie: social security's case, we keep saying doesn't add a penny to the deficit. >> it is absurd. if you're going to curtail something or act like something is horribly busted, then i would say the military expenditures that go into effect because of the sequestration actually are something that's a crucial. they're going to drop off immediately and the spending on them is overtly far beyond its necessity. >> stephanie: it is more than the military asks for. congress is trying to give them more. >> to do what with? it is not like they're not ahead technologically from -- on every front. >> but we need to be able to blow up the world 150 times not 147. >> stephanie: otherwise we're french and gay. ron in illinois, you're on "the stephanie miller show." hi ron. >> caller: good morning, steph. >> stephanie: good morning. >> caller: i don't understand why john boehner think -- unless he's
taxes, fiscal cliff. why do you have to bring in social security and medicare and fix something that's not broke? >> stephanie: social security's case, we keep saying doesn't add a penny to the deficit. >> it is absurd. if you're going to curtail something or act like something is horribly busted, then i would say the military expenditures that go into effect because of the sequestration actually are something that's a crucial. they're going to drop off immediately and the spending...
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Dec 7, 2012
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the cliff is something we are approaching now and we can see where it is. we know will hit the cliff. the avalanche is different. the only thing you know about avalanches, you know when the conditions are present. you know when the snowpack has built up to the point where it could happen. you do not know when it is going to happen, you just know it is coming. once it hits you, the avalanche becomes completely impossible to control. do you agree with this characterization about the avalanche? could you elaborate about that kind of threat? >> would you mind if i steal that from you? i will give you credit. i think it is right. i do think -- that is why what you're doing now is so important. this is a once in a generation opportunity for you to nail these things down. we're not that far apart. i really do not think we are. if you are able to put us on a credible path to fiscal sustainability, do it in a balanced way, i think we are golden. i think we will avoid that avalanche. if we do not do that, ultimately, it means we will never do it until we're forced by
the cliff is something we are approaching now and we can see where it is. we know will hit the cliff. the avalanche is different. the only thing you know about avalanches, you know when the conditions are present. you know when the snowpack has built up to the point where it could happen. you do not know when it is going to happen, you just know it is coming. once it hits you, the avalanche becomes completely impossible to control. do you agree with this characterization about the avalanche?...
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Dec 12, 2012
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cliff and something technical comes out in the unemployment rate drops for some reason. ashley: let's hear from the man himself, mr. bernanke. >> good afternoon. it has been about three and a half years since the economic recovery began. the economy continues to expand at a moderate pace. unfortunately however unemployment remains high. about 5 million people, more than 40% of the unemployed have been without a job for six months or more. millions more who say they would like full-time work an have only found part-time employment or stop looking entirely. the conditions in the job market now show waste of human and economic potential. return to broad-based prosperity will require sustained improvement in the job market which in turn requires stronger economic growth. meanwhile apart from some temporary fluctuations largely reflected swings in energy prices, it is likely to run at or below the federal market committee's 2% objective in coming quarters over the longer term. against a macroeconomic backdrop includes high unemployment and subdued inflation, the fomc will mai
cliff and something technical comes out in the unemployment rate drops for some reason. ashley: let's hear from the man himself, mr. bernanke. >> good afternoon. it has been about three and a half years since the economic recovery began. the economy continues to expand at a moderate pace. unfortunately however unemployment remains high. about 5 million people, more than 40% of the unemployed have been without a job for six months or more. millions more who say they would like full-time...
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Dec 5, 2012
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the fiscal cliff is a very different story. that's about reducing the deficit too fast. >> ifill: you call it an austerity bomb. describe what you mean by that. >> what's happening is that we are scheduled, unless something is done basically to do to ourselves gratuitously what has been happening to some of the european economies. we're going to have substantial spending cuts, substantial tax increases at a time when the dme is still very weak. of course that's a recipe for sliding back into recession. we set ourselves up with the land mine and the road in front of our economy which is not based on anything real, it's just based on our politicalness. >> ifill: speaking of political mess, both sides have what they say are opening gambits on the table. president obama at least his last week which calls for $1.6 trillion in revenues. the republicans came back with their own yesterday. as you looked at each approach, what do you see in that? >> well, i think it's important. i think the reporting has been a little weak on the republ
the fiscal cliff is a very different story. that's about reducing the deficit too fast. >> ifill: you call it an austerity bomb. describe what you mean by that. >> what's happening is that we are scheduled, unless something is done basically to do to ourselves gratuitously what has been happening to some of the european economies. we're going to have substantial spending cuts, substantial tax increases at a time when the dme is still very weak. of course that's a recipe for sliding...
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congress scurrying around still trying to get something going on the fiscal cliff. and the latest poll shows that 2/3 of americans including a majority of democrats republicans and independents all say that congressional leaders meaning republicans should compromise so we can avoid going over the fiscal cliff. that means republicans must give up their insistence that the bush tax cuts continue for the wealthiest of americans because it ain't gonna happen. the president's not going to sign the bill and the american people don't want to give them a continued tax break. they think they ought to pay more. so let's just get it done and then go home and celebrate the holidays. hey, good to have you with us. we'll talk about all of that and get all of latest including what's happening out in the state of michigan. but first, we take time out for today's current news update. lisa ferguson's got it out in los angeles. hi, lisa. good morning. >> hey bill. good morning everyone. americans are calling for a major overhaul of the republican party. especially when it comes to the
congress scurrying around still trying to get something going on the fiscal cliff. and the latest poll shows that 2/3 of americans including a majority of democrats republicans and independents all say that congressional leaders meaning republicans should compromise so we can avoid going over the fiscal cliff. that means republicans must give up their insistence that the bush tax cuts continue for the wealthiest of americans because it ain't gonna happen. the president's not going to sign the...
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how are you navigating this anticipation of the fiscal cliff and beyond? >> i think ben is on to something in terms of the effectiveness of it. over the last few years, monetary policy was a catalyst to move money into the marke on a capital allocation basis. you saw the jolt in the market, then it plateaued. heading into next yeerar, monety policy becomes part of the base. the jolt is fiscal policy. a little transparency on that front. the big switch is on. i think they going to use more words than action. >> they've been using that very effectively. and it actually moves markets. just the language. >> he didn't buy one bond. he said three words and spanish and italian yields drops three basis points. >> what were the three words? >> whatever it takes. >> that's good. markets like whatever it takes, i guess. rick santelli, loeet's talk job. that's tomorrow. some noise in this report. early thanksgiving, hurricane sandy. is this rally at the end of the day having anything to do with any anticipation of the jobs report? what are you looking for? >> no, i do
how are you navigating this anticipation of the fiscal cliff and beyond? >> i think ben is on to something in terms of the effectiveness of it. over the last few years, monetary policy was a catalyst to move money into the marke on a capital allocation basis. you saw the jolt in the market, then it plateaued. heading into next yeerar, monety policy becomes part of the base. the jolt is fiscal policy. a little transparency on that front. the big switch is on. i think they going to use more...